China's Crackdown on ‘Hedonistic’ Bankers Fuels Industry Brain Drain

[@feixie5196]

The finance sector has been a brain drain for every other high skill sector in China for years, this is definitely a step in the right direction.

[@SSYlist]

& now china find itself in difficulty finding fdi with the lowest ever recorded since Deng. This is called d¿₩b beyond recognition

[@Gatemboful]

YOU ARE KIDDING, ARENT YOU?

[@marvelcomiks8078]

Notice that whenever a bank fails, the government has to almost always bail them out using tax payers' monies. But when banks make profits, the bankers haul back these as huge obscene bonuses. This is absolutely not fair. Banks should rightly report to the Government and bankers paid according to civil servant pay scale because these people are manipulating the people's money.

[@marvelcomiks8078]

Notice that whenever a bank fails, the government has to almost always bail them out using tax payers' monies. But when banks make profits, the bankers haul back these as huge obscene bonuses. This is absolutely not fair. Banks should rightly report to the Government and bankers paid according to civil servant pay scale because these people are manipulating the people's money.

[@docjoei2224]

Yes, it is a terrible terrible thing to crack down on greedy bankers who inflict suffering on everyday citizens😮

[@bullpup1337]

its a populist wording for autocratic control of private industry. If you cheer for that, you probably dont even understand the motivation behind that.

[@turtlesoup8134]

@@bullpup1337 people saying BS like you don't know what the investment bankers and bankers lifestyle in China. These people are downright hedonistic and contribute less to the well being of the people. When these people got rich, they just buy assets overseas, they like to flash their wealth in front of the poor, they have no family values and they lack moral. Gov officials are all that too, but at least they still serve the public much more than the bankers.

[@niazibilal]

@@bullpup1337populism is caring for ordinary people, which is 99% of the population

[@bullpup1337]

@@niazibilal no…. thats… not populism.

[@bullpup1337]

@@wbay3848 I am supporting capitalism right here, right now - thank you.

[@xiphoid2011]

Banking in China are government jobs. The government is running out of money, hence are cutting their salaries. Corruption, hedonisric, other slogans are just excuses for the paycut. It's especially difficult at provincial and city level as most of the taxes collected must be handed over to the central government, yet the central government won't shoulder most of the debt, what a surpise.

[@prolific1518]

Ok remember this when wall street takes your retirement. Don't be out there protesting or crying to politicians 😘

[@Charles-qe7kc]

You must be living in China right now to speak with such assurance, where are you living specifically right now

[@AhmetTekin101]

​@@Charles-qe7kcAre you living in China now?

[@AhmetTekin101]

​@@prolific1518 Do you think people living in China know about China?...lol

[@Charles-qe7kc]

@@AhmetTekin101No I don't thus I don't make any definitive statements without prodiving any numbers backing them...

[@chanahyingchan5070]

Very well spoken. People first. Not greed here.

[@marvelcomiks8078]

Notice that whenever a bank fails, the government has to almost always bail them out using tax payers' monies. But when banks make profits, the bankers haul back these as huge obscene bonuses. This is absolutely not fair. Banks should rightly report to the Government and bankers paid according to civil servant pay scale because these people are manipulating the people's money.

[@jamesshen401]

Banking "talent" is not useful to any society...

[@81Earthangel]

If you want to fight corruption shouldn’t you increase base salary and clamp down on the illegal income? Why are they doing the opposite?

[@ArabicReja973]

Chinese 🇨🇳 property sector, which accounts for 30% of GDP, is crashing. - Exports and imports, accounting for 37% GDP, are down. - Foreign investment (FDI) is falling over 90%, lowest in 3 decades. - Foreign visitors are down 96% compared to the pre-pandemic level in 2019. - Consumer prices are experiencing deflation. - Youth unemployment hits over 21%, a record. - Its fast-shrinking workforce is 10 years older than neighboring countries. *Still, China keeps reporting outrageous GDP numbers.* Lol Where does the growth come from?

[@M0rph3uz]

From Wishful thinking with Chinese characteristics

[@AhmetTekin101]

​@@M0rph3uzThe Chinese government is not very truthful.

[@REALjackiehu]

Department of Statistics, they have the smartest guys in the nation😂

[@AhmetTekin101]

@@REALjackiehu Can you debunk any of those?

[@rashius]

It comes from the interior provinces of China, the economic growth in China from the past 40 years only happened in the coastal provinces in China while its inner provinces was largely left behind. Now they are directing development towards the western part of China. Xinjiang's export grew by 23% in 2023.

[@teatree6228]

Bloomberg spends more time - analysing china and giving advice rather than identifying domestic problems and advising how to solve them Busy body- the nosey one- nothing better to do

[@andrewvare3173]

Can you imagine listening to Bloomberg and actually committing capital to the Chinese market? Me neither.

[@rickjames4727]

when blood on the streets…

[@andrewvare3173]

@@rickjames4727 if you like giving money to authoritarian dictatorships go right ahead. Not me.

[@ssuwandi3240]

You're way too close to the terminal exit like The debts overloaded Bloomberg. Byeee Boomers

[@eternalobi]

@@andrewvare3173 Not one is giving. People want to make money. and making money involve taking risks. stay poor my friend.

[@Leshic2]

It's funny you say this because until maybe a few months ago (FYI, the chinese market has been going down since 2021), Bloomberg has been one of the biggest supporters of Chinese investment and the least likely place to find anything negative on China. I remember well, the day a Chinese engineer in the USA was caught stealing trade secrets but was able to fleet before athorities caught him and he fled back to China. The news was on every network, including the other finance networks. Bloomberg? Nothing. As proof, and for my own documentation, I screenshot search results here and on their website, that included the date and time. As well as showing results from other sources as a comparison. When Evergrande started missing their dollar bond payments in 2021, information on this was extremely limited on Bloomberg. Anybody that's lived through the GFC, knows that this was the 1st pop before many other explosions, that actually did happen and they have very serious issues. However, Sept, 2021, barely any information at all. Nobody talked about the risks, or did research or shared the extreme issues in their real estate market. To say that it was highly suspicious to be so very quiet on the issue, was an understatment.

[@MrStephenmindo]

This Economy sure is big. All these multitude of problems and its still growing. How? Where are growth drivers? EV and Solar are not enough.

[@吕栋任]

Ships, airplanes, high-speed rail, engineering equipment, agricultural machinery, batteries, electric vehicles, fuel vehicles, photovoltaics, mature process chips, cross-border e-commerce, infrastructure construction in the Middle East, all markets in Russia, and so on, everything has just begun. These can be easily traced, but the truth is too painful😬

[@jayzee316]

china beat japan last year to be the biggest auto exporter in the world , its not just EV either, you should go outside of G7 countries to see it. And they already make most of your electronics, phones, appliances, etc. Same with infrastructure, machines, batteries, glass, ..... the list goes on. Also about 400 million are still considered "rural", i.e. they have not urbanized, there's still a lot of growth and urbanization left to do.

[@ssuwandi3240]

BRI infrastructure assets. You wouldn't think they built roads and trains then left would you?

[@MrStephenmindo]

@@吕栋任 They are all below pre-pandemic levels(except maybe the Russia thing which still isn't large enough). Only solar, EV and batteries are higher than before. But like I said that's still not enough.

[@MrStephenmindo]

@@jayzee316 All those are below pre-pandemic levels. Only solar, EV and batteries are higher than before. But like I said that's still not enough. And overall exports are down too.

[@yenshui]

Who needs the brain of hedonisrtic bankers?

[@telluwide5553]

Xi's actions against those who have chosen the banking sector as their line of work and his efforts to discourage it should be no surprise. The traditional Communist view on the Banking profession within a communist state was as a dull, non status job. I spent 20 years in a former Soviet country and this is what a very wealthy investor friend of mine had told me since he was trained and worked in banking in the former USSR before its fall.

[@Karlswebb]

China is not a communsit country anymore my friend. They are a capitalist dictatorship under Xi Xinping under nominal communist rule. Communists don't encourage market economies and build the worlds second largest market economy with one of the most unequal distributions of wealth in the world.

[@eternalobi]

it would be a major mistake to compare USSR and the current communist party systems in China. The ladder has evolved and constantly evolving.

[@Solairethedarksoul]

Oh they are “hedonists”….ok…

[@ayferkagitci]

Sorry for turkish: Movie story: Hikaye (gerçek olsaydı, emniyetin bütün maaşının iptalini dua eder isterdim. Demek ki insanı koruyamıyor, güvenliği sağlamıyor): Kadının nüfustaki kızkardeşleri, aynı apartmandaki dairelerine aylarca seçerek kiracı yerleştirirler. Kiracı kadını rahatsız ettiği sürece problem olmaz. Ancak verdikleri rahatsızlık, kızkardeşin kendisine yönelince problem olur. Çıkarmaya çalışınca, evine zarar vererek çıktığını görür dava açar. Ancak kadını da hasta olarak kapatmak istiyordur. Kiracısı ile anlaşması zaten öyledir. Kadının sinirlerini bozarak hasta olarak göstermek için anlaşmıştır. Kiracı çıkınca açtığı zarar davası için, kiracı ile pazarlık eder. Apartman içi ve dışı başka hmlarla da kadınla ilgili konu için pazarlık yapar. Kadının gıda, sanayinin çok çeşitleri, tekstil yani her üretim ve işletme işlerinde yeni projeleri, formülleri vardı. Ülkenin son seçimlerinden sonra, son birkaç yıl içinde, öok sayıda sübyan hmefendi değişik konularda şirketler kurmuşlardı. Örneğin, gıda şirketleri kuran hmefendiler kadının yiyecek içecek formüllerini evinden, dışarda çantasından "alıyorlardı". Kızkardeşi eski bir üniversite arkadaşının kızının gıda şirketi için, aşçılığı için de pazarlık ediyordu. Kadının evini herkese açmıştı. "Hasta edin. Sinir edin. Sizin liyakatınız. Sizin hakkınız. Neyi varsa alın. Onu vana hasta olarak verin" diyordu. Eski arkadaşları gayet memnunlardı anne baba olarak. Kızları prenses olmuştu. "Batmayan güneş prensesi" diyorlardı. Örneğin; Kadının şerbet formülünü çamaşır makinesindeki yıkanan çamaşırlarına kattılar. Üç kere yıkanan çamaşırlar yine kirli çıktı. Şerbeti gibi kokar doku ile çıktı. Kadın sinirle çıksaydı dışarı, daha önce yaptıkları başka şeyler gibi, suratlarında pis sırıtışla ve tepeden kibirle bakarak "respect your elders" diyeceklerdi. Kadına "daha ister misin?" olaylarını aylarca yaşatmışlardı. Şerbet formülünü aşçılığında kullanacaklar, kadından aldıkları kremli kolonya formülünü de başka şirketlerinde kullanacaklardı. "Pazarlık pay istiyoruz" bile demiyorlardı artık. "Herşeyi bizim hakkımız" diyorlardı. "Bize saygı duyacak. Özür dileyecek. Ne yaptıysa bizim hakkımız". Bazıları da "koruma payı komisyonu" istiyordu. Kızkardeşi gibi... "Beeeen onu korumak için sert davranmıştım. Kadın ööööyle anlıyor. Haklarını ben pazarlayıp işleteyim. Haaasta o. Onu hen korurum yine. E işimin hakkını da alırım" diyordu. Ve bu olay yıllarca otuzyıl sürmüştü. Kadın hiçbir hakkını hiçbirine hakhelal etmedi. Hiçbirine kuruş vermedi. Hiçbirine... Emniyet güvenlik birimleri işlerini yapmadıkları için, ülkenin gizli servisi başta olmak üzere, dünyanın heryerinden ceza aldılar. Gereken temizlik yapılacaktı. Çünkü dünyaya zarardılar, sadece kadın için değil. "Kadıngücü temizliği" operasyonu ile, bütün dünya harekete geçti. "Respect your elders" cümlesini kadın "respect to elders to old people" olarak, kendi kültüründe kullanır açıklardı. Kadını olmadığı şekilde göstererek, tanımlara kendi manalarını koyuyorlardı. Kendilerine de kadının hayatını kopya ediyorlardı. "Batmayan güneşin prensesine" gelince........ Daha bir yaşındayken, babası annesi ile sokapa atacaktı. Kadın o yıllarda çocuktu. Onun sayesinde kurtulmuş ve babası annesi ile öyle evlenmişti. Birçok hm sübyanın hayatında böyle hikayeleri vardı. Ve kadından nefret ediyorlardı. Dünyada yakışan bütün canşılardan ettikleri gibi... Written by ayfer

[@gunsumwong3948]

Greed is worshipped in the west but not in China.

[@gstlb]

Greed is used as an excuse by Xi to attack whoever he wants to attack. No one can be more powerful than the CCP and its leaders. This has been shown over and over. Ask Jack Ma.

[@gstlb]

I live in the West and no one I know worships greed.

[@gunsumwong3948]

@@gstlb I live in the west too and people worship money and disregard where it came from! It is who wants to be a millionaire all the time. Have your eye sight checked mate!

[@jackreacher8858]

@@gstlbShould go out more

[@inconvenientTruther]

Cutting down on corrupt bankers is a bad thing?

[@SSYlist]

Just not very transparent. Thats all. If you're confident in what you do is right, make it public

[@inconvenientTruther]

@@SSYlist they do! They written down their 5 yrs plan, Xi literally wrote what he's going to do

[@karthur3421]

he popped the bubble and isn't bailing them out like the US did, not too complicated to see what's truly happening. Remember what he said, "houses are for living, not speculation".

[@thejeffinvade]

Chinese bankers don’t rely on salaries……

[@rasheedalmokhlefalsultan6734]

finance are rent in the economy the smaller the better for the real economy.

[@splendidemendax7292]

doctors don’t make a whole lot in China. Why should bankers make so much?

[@roegoleg]

The condescending nature of this “interview” is a great example of unbiased journalism.

[@ayferkagitci]

Movie story: The cities money credit secret: There were three sisters. Who was Two olders were killing the youngest one. We are telling "how and why were they killing her?". Its the politic election times... Two older sisters are preparing for politic elections in two different parties. The youngest one is preparing only save her life. She hasnt interest about politic points until those days. She has only worked. She has worked very hard, during her life. One politic party is saying "they will save the republic for all public groups inthat cpuntry.... And save all people.....". She worked too much to win. That party "wins the politic race". They give important work positions and big salaries and some advantages to the two sistets. Then........ Two older sisters start to push the youngest one to work with them at the municipolity for that party. Becauae it was the municipolity president elections. She doesnt want. She refuse. She doesnt want. They worked by pains into her life. She doesnt want again and again. The politic parties fired them and take back their positions. They are angry. Actually they already close the youngest sisyer into "soul sicks hospitals" a few times in past. They were using her life, already... for many years....... All "doctors" and "law personels" with them... The children have been used in that country, for some women like the olders sisters.... For many years..... The people are saying "dont afraid. The health doctors will yreat you"..... All people were and still are happy because their "necesarries" are always have been provided by that method.... Always... And still..... The children have paid moneys to treatments. To "doctors" to "medicines" to "all hospitals and medicines workers" health sectors..... Its the country which is using the children for money and all necessaries. Most of them work with two older sisters. Almost all doctors and law personels work with them. Becauae they realized that, the election winner is nothing. Her wife is nothing. They havent have any president neither even personal specialities, no idea..... And they shown for four uears they havent any ethics. Because they go on kill her during four years. In four years, they and almost all peopke realized that they were living with her money, with her works with her life. Some of past people in her life have been given her all life to some people. They shared her life. Some of took her works moneys, some of them her life and humanity specialities.... What she like, the colors which she use loves, the musics, the books, the people who she loves, all what she loves what she feels happy with.... She had lots of international works. They took from her email phones massages etc. They had the works for theirselves. They used her life for theirselves..... They show her to other people bad and dirty woman. Very bad. They show the president successes using her all life (actually they already have been started fifteen years ago, giving her life to president family. They already elecyed him. They elected her to be his darling because he was andcstill empty person. Like his wife. No idea no ethics. No any humanity.........). In four years, they killed her every day, by pains. They make to her unfinish pains in her life. They pay their life by using her life, by pressing pains. They go on to use her life for their children (they have children like same as them specialities). Her life her moneys are using for pay two cities municipolities money credits. Still... They used and are still using. The cities people, the country people, took her all life, by pains.... She said "please please enough. Please please i am died. Please please enough. Please let me, give me my humanity dying. No any more pain... Please". They laughed. They say "why will we that favor for you?". They have some plays on her life, in four years. They took her two teeths (for left and right politics) with entertaitment plays. Because she said uring her life "children education should be by happy methods. By plays by smiling....". They laughed and they set what do they understand. Yes, you hear right. They still laugh with her all life. Its entertaitment way for them. Copy her life put themselves, show her bad. Very simple. There are some plays on her life. Forexample one of plays is, They use her body influation for using her moneys. They dont give her new business ideas having permit. They say "its our right. You are nothing" . all of them say "why will make this favor to you?". They dont give humanity nopain dying to her. They go on use her ideas and life. They keep alive two older sisters in her life. They use her by warnings "if you dont do this, your sisters will make organizations to put you in hospital". Two sisters take her all money and life. Her last pray is "please god. Please the god who created all world.... Please take me and then my mother to you by nomorepain die. Please. Make all them all this country (this is not my country. What i know about them are wrong) all pains how they understand. Please. 🙏🙏🙏." (They already took her prays. They dont give permit to pray). Her pray means internaional science nopain humanity die. Not about sone poems or lyrics symbolics. She is still in the pray. Amen amin 🙏🙏🙏 Written by Ayfer from turkey 2024

[@yifeilu1419]

Seemingly resonate to measures by the Ming Dynasty in the 1500s that proved to be counterproductive.

[@Fj8282haha]

Liu is ab be arrested for “acting as a foreign agent without permission “ 😂😂😂😂 and thrown in prison for “unidentified” time period as usual treatment

[@christyag1177]

Is the situation really that scary in China?

[@orionmedivh5859]

According to the smear campaign from the Western media, yes. In reality, no.

[@atlaschen1081]

China’bankers are different from the west' bankers😂

[@kyleaustin2728]

A lean camel is not bigger than a horse

[@lominiski]

No jobs is normal.

[@smokajoy8617]

My presiden wanna make my country to be The open market to the world, are you in? Mr Xi

[@Richard-s7m]

BS,she is saying that because the editor wanted her to say that or she is fired.Rubbish fake news.

[@louistan7560]

Wait till March 11 to understand why.

[@t6553gw]

Why March 11?

[@lastChang]

When was the last time Chinese Xi Jinping kept his promises or honored his signatures?

[@jayzee316]

pretty much every time. they dont do elections, they make no random campaign promises like build a wall, which they would do if they did.

[@SpaghetteMan]

🤣 lastChang bootlicking bankers now? you've fallen low huh.

[@quantum.spectrum]

Its getting really scary

[@jayzee316]

yes, for corrupt officials, billionaires and bribed bankers, which one are you?

[@hangender]

Cracking down on woke bankers for sure

[@whitemoon5752]

This guy is nuts

[@dainguyen8696]

How dare you criticize emperor Pooh economic expertise?? Don’t you know he love China so much he force his thoughts on all of China academia, colleges students , high school students, kindergarten etc etc..don’t you know emperor Pooh thought & words are the sacred Bible for the of people of China….just how dare you!!

[@SpaghetteMan]

its called economic central planning; you've probably never heard of it since corporations own your country.

[@dainguyen8696]

@@SpaghetteMan yep, in my country the stock market skyrocketed, statistically a car for everyone even a baby, wages are rising, unemployment at an all time low..Yes, we don’t have to abide by anyone particularly thought..Everyone thinks independently & those with vision/creative ideas form corporations and help everyone find a good jobs..